American National Bank Reduces Stock Holdings in NIKE, Inc. (NYSE:NKE)

American National Bank reduced its holdings in NIKE, Inc. (NYSE:NKE) by 31.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,408 shares of the footwear maker’s stock after selling 2,056 shares during the period. American National Bank’s holdings in NIKE were worth $414,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Cim LLC purchased a new stake in shares of NIKE in the 4th quarter valued at $14,275,000. TKG Advisors LLC purchased a new stake in shares of NIKE in the 4th quarter valued at $1,012,000. Louisiana State Employees Retirement System purchased a new stake in shares of NIKE in the 4th quarter valued at $8,034,000. Financial Gravity Asset Management Inc. boosted its holdings in shares of NIKE by 2,332.5% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 184,042 shares of the footwear maker’s stock valued at $17,598,000 after acquiring an additional 176,476 shares during the last quarter. Finally, Brown Advisory Inc. lifted its stake in shares of NIKE by 4.3% in the 4th quarter. Brown Advisory Inc. now owns 4,668,949 shares of the footwear maker’s stock valued at $506,908,000 after purchasing an additional 192,752 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Price Performance

Shares of NYSE NKE opened at $97.10 on Friday. The firm has a 50-day simple moving average of $93.60 and a 200-day simple moving average of $100.02. The stock has a market capitalization of $146.56 billion, a price-to-earnings ratio of 28.56, a price-to-earnings-growth ratio of 1.80 and a beta of 1.05. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63. NIKE, Inc. has a 52 week low of $88.66 and a 52 week high of $123.39.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.29. NIKE had a net margin of 10.14% and a return on equity of 39.41%. The business had revenue of $12.43 billion during the quarter, compared to analysts’ expectations of $12.28 billion. On average, equities analysts predict that NIKE, Inc. will post 3.76 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date of this dividend is Monday, June 3rd. NIKE’s dividend payout ratio is currently 43.53%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on NKE shares. Oppenheimer upgraded shares of NIKE from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $110.00 to $120.00 in a research note on Friday. JPMorgan Chase & Co. decreased their target price on shares of NIKE from $122.00 to $116.00 and set an “overweight” rating for the company in a research note on Thursday. Barclays decreased their target price on shares of NIKE from $142.00 to $114.00 and set an “overweight” rating for the company in a research note on Monday, March 25th. Evercore ISI decreased their target price on shares of NIKE from $127.00 to $117.00 and set an “outperform” rating for the company in a research note on Friday, March 22nd. Finally, Sanford C. Bernstein decreased their target price on shares of NIKE from $134.00 to $120.00 and set an “outperform” rating for the company in a research note on Friday, March 22nd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat, NIKE currently has a consensus rating of “Moderate Buy” and a consensus price target of $114.81.

Insider Activity at NIKE

In related news, VP Johanna Nielsen sold 282 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $93.64, for a total value of $26,406.48. Following the completion of the sale, the vice president now owns 730 shares of the company’s stock, valued at $68,357.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other NIKE news, EVP Monique S. Matheson sold 45,000 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the completion of the transaction, the executive vice president now owns 44,997 shares of the company’s stock, valued at $4,236,917.52. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Johanna Nielsen sold 282 shares of the stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $93.64, for a total transaction of $26,406.48. Following the transaction, the vice president now directly owns 730 shares of the company’s stock, valued at approximately $68,357.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 213,660 shares of company stock valued at $19,946,333. 0.50% of the stock is owned by company insiders.

NIKE Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.